NewEdge Wealth LLC Acquires 7,091 Shares of Alnylam Pharmaceuticals, Inc. $ALNY

NewEdge Wealth LLC increased its stake in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNYFree Report) by 786.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 7,993 shares of the biopharmaceutical company’s stock after acquiring an additional 7,091 shares during the period. NewEdge Wealth LLC’s holdings in Alnylam Pharmaceuticals were worth $3,473,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ALNY. Norges Bank bought a new stake in shares of Alnylam Pharmaceuticals in the 2nd quarter valued at approximately $662,837,000. Holocene Advisors LP bought a new stake in Alnylam Pharmaceuticals in the second quarter worth $194,616,000. Orbis Allan Gray Ltd lifted its position in Alnylam Pharmaceuticals by 29.8% in the second quarter. Orbis Allan Gray Ltd now owns 2,121,412 shares of the biopharmaceutical company’s stock worth $691,771,000 after buying an additional 486,489 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in Alnylam Pharmaceuticals during the third quarter worth $162,577,000. Finally, Vanguard Group Inc. increased its position in Alnylam Pharmaceuticals by 2.0% during the third quarter. Vanguard Group Inc. now owns 13,565,452 shares of the biopharmaceutical company’s stock valued at $6,185,846,000 after acquiring an additional 268,313 shares during the last quarter. 92.97% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Pushkal Garg sold 2,242 shares of the stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $310.08, for a total transaction of $695,199.36. Following the completion of the sale, the executive vice president owned 24,848 shares of the company’s stock, valued at $7,704,867.84. This represents a 8.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kevin Joseph Fitzgerald sold 2,041 shares of Alnylam Pharmaceuticals stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $331.96, for a total transaction of $677,530.36. Following the completion of the transaction, the executive vice president directly owned 21,264 shares in the company, valued at $7,058,797.44. This represents a 8.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 36,578 shares of company stock worth $12,416,105. Insiders own 1.50% of the company’s stock.

More Alnylam Pharmaceuticals News

Here are the key news stories impacting Alnylam Pharmaceuticals this week:

Alnylam Pharmaceuticals Trading Down 0.9%

ALNY opened at $336.19 on Friday. The company has a current ratio of 2.76, a quick ratio of 2.71 and a debt-to-equity ratio of 1.28. The firm has a market cap of $44.59 billion, a price-to-earnings ratio of 196.60 and a beta of 0.35. Alnylam Pharmaceuticals, Inc. has a 12 month low of $205.87 and a 12 month high of $495.55. The stock has a fifty day moving average price of $366.89 and a 200-day moving average price of $422.44.

Alnylam Pharmaceuticals (NASDAQ:ALNYGet Free Report) last issued its quarterly earnings data on Thursday, February 12th. The biopharmaceutical company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.61). The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.16 billion. Alnylam Pharmaceuticals had a net margin of 6.43% and a return on equity of 69.02%. Alnylam Pharmaceuticals’s revenue for the quarter was up 84.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.65) EPS. As a group, equities research analysts anticipate that Alnylam Pharmaceuticals, Inc. will post -1.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ALNY has been the subject of several analyst reports. Oppenheimer began coverage on shares of Alnylam Pharmaceuticals in a report on Wednesday, January 7th. They issued an “outperform” rating and a $500.00 target price for the company. Piper Sandler reiterated an “overweight” rating and issued a $489.00 target price (up from $449.00) on shares of Alnylam Pharmaceuticals in a report on Friday, October 31st. Needham & Company LLC cut their price target on Alnylam Pharmaceuticals from $529.00 to $510.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Barclays started coverage on Alnylam Pharmaceuticals in a report on Wednesday, January 28th. They issued an “overweight” rating and a $527.00 price objective for the company. Finally, Weiss Ratings raised shares of Alnylam Pharmaceuticals from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Thursday, January 15th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $477.96.

Get Our Latest Analysis on ALNY

About Alnylam Pharmaceuticals

(Free Report)

Alnylam Pharmaceuticals, Inc (NASDAQ: ALNY) is a biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Founded to translate the scientific discovery of RNAi into new medicines, Alnylam applies small interfering RNA (siRNA) technology to silence disease-causing genes. The company develops therapies designed to provide durable disease modification by targeting underlying genetic drivers across a range of rare and more prevalent conditions.

Alnylam has advanced multiple siRNA-based products into commercialization, initially using lipid nanoparticle delivery and more recently employing GalNAc-conjugate chemistry to enable targeted delivery to the liver with subcutaneous dosing.

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Institutional Ownership by Quarter for Alnylam Pharmaceuticals (NASDAQ:ALNY)

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